Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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  • International Commercial Terms (Incoterms)

    Terms published by the International Chamber of Commerce (ICC) that are globally recognized terms for moving goods internationally. These terms define the responsibilities and risks of both the buyer and seller including while the merchandise is in transit. Incoterms apply to goods that cross national borders.

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